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MICT STOCK ALERT: HALPER SADEH LLP IS INVESTIGATING WHETHER THE MERGER OF MICT, INC. IS FAIR TO SHAREHOLDERS
May 10, 2022.
New York, New York—Halper Sadeh LLP, an investor rights law firm, is investigating whether the merger of MICT, Inc. (NASDAQ: MICT) and Tingo, Inc. is fair to MICT shareholders. Under the terms of the proposed merger, Tingo will merge into a newly-formed subsidiary of MICT, with Tingo shareholders receiving new MICT common shares in an amount equal to approximately 77.5% in the combined company, and current MICT shareholders owning approximately 22.5% on a fully diluted basis following the closing.
The investigation concerns whether MICT and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for MICT shareholders; and (2) disclose all material information necessary for MICT shareholders to adequately assess and value the merger consideration. On behalf of MICT shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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